Gold Forecast: XAU/USD is taking a nap

XAUUSD 12th May, 2015

Gold (currently at: 1192 level) is still moving slowly within the sideline range. Our current resistance is around 1235 level and our near support is around 1169. I am still convinced that we should buy gold. I might drop the probability that gold will be cheaper or get close to 1100 level before it goes up but, my expectation are not that solid this time so, you gotta expect a fall before going up.

Buying gold in this area seems to be a little bit tempting so, you can do it wisely with caution, putting in mind that uncertainty is still blurring the trend

The GOLD (XAU/USD) has the following major resistance and support levels:

  • RESISTANCE: 1235
  • SUPPORT: 1076

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 1210 – Take profit 1160 (50 pips profits)
  • Buy: at 1180 – Take profit 1220 (40 pips profits)
  • Buy: at 1160 – Take Profit 1200 (40 pips profits)
  • Buy: at 1080 – Take Profit 1180 (100 pips profits)

This review is valid during trading week: 12th-15th April, 2015

USD/JPY Forecast: U Turn seems to be closer than expected

USDJPY 6th May, 2015

USDJPY Analysis

USD/JPY trend is not that clear during the last 2 weeks with limited tradable range from 118.40 to 120.50 but, this is normal when we are getting closer to important data release. Although, the same inner voice I’ve talked about in this post is still telling me that uptrend will resume soon but, I am still not convinced that this soon is not that close, it is not a near future. My technical overview is highlighting two strong resistance levels: 121.60 or 122.02. The support for USD/JPY can be found above these levels: 116.60 and 117.50. I am expecting short term downtrend by the end of this week, this depends on how the market will react with the NFP data.

Next Friday, Non-farm payroll data will be essential element for the US dollar watchers. I am expecting supportive data above 200K which might raise the expectations about raising the interest rate in June. I am not expecting any real surprises from Yellen’s speech or ADP Nonfarm employment data today.

The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 124
  • SUPPORT: 117.50

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 121.40 – Take profit 120.40 (100 pips profits)
  • Buy: at 117.60 – Take Profit 118.60 (100 pips profits)
  • Buy: at 119.50 – Take Profit 120.10 (60 pips profits)

This review is valid during trading week: 5th-8th April, 2015

GBP/USD Forecast: Strong uptrend will last or .. ?

GBPUSD 29th April, 2015

GBP/USD Analysis

GBP/USD (currently at: 1.5420) broke the strong resistance 1.5429 easily and had a rally during the last week as I’ve previously mentioned in my previous post.

The BOE is still watching the economic data of UK with no serious action. On the other hand, the dollar is suffering from uncertainty and mixed expectations about the timing of the first rate hike. Sterling pound will stay for a while within this range and the way to 1.5805 (the next major resistance) should not be that easy.

My technical overview adds extra space for the current uptrend rally and I can see that there is higher chances that this uptrend will last for a while till we touch 1.5805. The move will be slower a little bit than what happened the last 48 hours. I recommend buying this pair with caution this time because mixed moves might occur sharply. Buy GBP/USD and watch these resistance levels: 1.5699 and 1.5805 as checkpoints for this rally. Our close support levels are: 1.5000 and 1.4565

The GBP/USD has the following major resistance and support levels:

  • RESISTANCE: 1.5805
  • SUPPORT: 1.4334

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop-loss applied):

  • Sell: at 1.5680 – Take profit 1.5600 (80 pips profits)
  • Sell: at 1.5790 – Take profit 1.5690 (100 pips profits)
  • Buy: at 1.5350 – Take profit 1.5500 (150 pips profits)
  • Buy: at 1.5250 – Take profit 1.5350 (100 pips profits)
  • Buy: at 1.5010 – Take profit 1.5090 (80 pips profits)

This review is valid during trading week: 29th-30th April – 1st of May, 2015

EUR/USD Forecast: Deceive moves

EURUSD 29th April, 2015

EUR/USD Analysis

EUR/USD is testing the resistance range 1.1050 right now after having a stable support around 1.0655. The limited uptrend is trying to deceive us by moving up like it is taking off however, I can not see any reason to buy Euro for long term and definitely it is not reversing the fundamental downtrend so, I’ll respect the short term uptrend by buying quickly and lock the profits quickly too. I am expecting EUR/USD to keep on sideline moves in the next week with attempt to test higher resistances around 1.1250 and 1.1450, I am interested to hunt the best short position during the next few weeks.

As I mentioned before EUR/USD still has a minor support at 1.0459 and it tested it once, I am still expecting another test to this support level. Greece’s smoke is lowered by a hope to find a way to end this dilemma.

Today, Fed meeting is not promising with any surprises, I am expecting the same language from the fed and a stress on a near rate hike (suggested June). They want to keep the market on this phase to the maximum time.

The EUR/USD has the following major resistance and support levels:

  • RESISTANCE: 1.1250
  • SUPPORT: 1.0459

Breaking these levels in any direction will take us higher or lower.

My Daily SELL advice (30 pips stop-loss applied):

  • Sell at: 1.1110 – Take Profit 1.1000 (90 pips profits)
  • Sell at: 1.1230 – Take Profit 1.1130 (100 pips profits)
  • Buy at: 1.0990 – Take Profit 1.1090 (100 pips profits)

This signal is valid during trading week: 29th-30th April and 1st May, 2015

Silver Forecast: Downtrend suspended for a while?

Silver 27th April, 2015

Silver bounced from 15.58 (higher than my previous expectation) to 16.40 in one shot.

The bullish momentum seems to be stronger now and it seems that we are ready to test this range (17.40-17.90). However, I can not confirm that this is the end of the downtrend. I am still waiting for cheaper silver to buy for long term.

Sell silver in any place around 17.80 and hold on till it hits 15 level again, I am expecting this to be slowly move as the previous one!

The Silver (XAG/USD) has the following major resistance and support levels:

  • RESISTANCE: 18.60
  • SUPPORT: 15

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 17.80 – Take profit 17 (80 pips profits)
  • Sell: at 17.50 – Take profit 17 (50 pips profits)
  • Sell: at 17.20 – Take profit 16.50 (70 pips profits)

This review is valid during trading week: 27th-30th April, 2015